Tuesday, May 14th

10:30am AUD Annual Budget Release noted that, “In response to difficult global conditions and the sustained high Australian dollar, this Budget charts a pathway to return to balance in 201516 and to surplus by 201617, improves the sustainability of Australia’s public finances and builds on Australia’s record of fiscal and economic strength. This Budget delivers $43 billion in savings to return the budget to surplus and fund key nation-building reforms.” The currency fell.

Wednesday, May 15th

10:30am GBP BOE Governor King said that, “Today’s projections are for growth to be a little stronger and inflation a little weaker than we expected three months ago. That’s the first time I’ve been able to say that since before the financial crisis” The currency rose.

10:30am GBP BOE Inflation Report noted that, “CPI inflation remains above the 2% target and is set to edge higher over coming months. Inflation is likely to stay above the target for much of the next two years, bolstered by external price pressures and administered and regulated prices. But inflation is expected to fall back to around 2% in the latter part of the forecast period, as external price pressures fade and a gradual revival in productivity growth curbs increases in domestic costs.” The currency rose.

Thursday, May 16th

3:00am NZD Annual Budget Release noted that, “The NZDMO continues to focus on extending the duration of the Crown’s debt portfolio and is considering launching two longer-dated bonds as part of the 2013/14 bond programme. Possible maturities being considered include an April 2027 nominal and a September 2030 inflation-indexed bond.” The currency fell.